Lyra Therapeutics (NASDAQ:LYRA) Releases Earnings Results, Misses Expectations By $0.04 EPS

Lyra Therapeutics (NASDAQ:LYRA) announced its quarterly earnings results on Thursday. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04), Zacks reports. The firm had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.21 million. Lyra Therapeutics had a negative net margin of 6,635.76% and a negative return on equity of 125.07%. During the same quarter in the previous year, the firm posted ($1.26) EPS.

Lyra Therapeutics Stock Down 1.7 %

Shares of NASDAQ:LYRA opened at $0.17 on Friday. The company has a market capitalization of $11.26 million, a price-to-earnings ratio of -0.12 and a beta of -0.18. Lyra Therapeutics has a 52 week low of $0.16 and a 52 week high of $6.79. The firm has a 50 day moving average of $0.19 and a 200 day moving average of $0.22.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “neutral” rating and issued a $2.00 price objective on shares of Lyra Therapeutics in a research note on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.50.

About Lyra Therapeutics

Lyra Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the development and commercialization of novel integrated drug and delivery solutions for the localized treatment of patients with ear, nose, and throat diseases. It's XTreo technology platform is designed to deliver medicines directly to the affected tissue for sustained periods with a single administration.